Real Estate Investing Facts

Once you make the decision to refinance, the next step is to decide which of the many mortgage bankers you are going to choose to work with. You could talk with your friends and family for there input on choosing a lender. People you know who have recently refinanced can be especially useful in helping you to determine which lender to use based on how they were treated. You can get some candid and valuable opinions from people you personally know for help in this aspect.

Comparison shopping is one of the best things that you can do when choosing a lender. You should look for the best interest rate and terms that fit your qualifications and comfort zone. Quotes from each lender that you are looking at should be requested, as this will help you even more with choosing a lender. With quotes you can determine how much money you can save with the lender and a refinancing plan that you are going to get.

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Mortgage Bankers

Hans Anderson

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This article goes into how to have an successful meeting, the roles that the members will have to play and how much money will be invested each month.

After the initial step of finding just the right people to invite into your investment club, you have to decide how, when and where the meetings will be held. If your members are all friends and family members, it should be fairly easy for you to get together on a schedule which will fit in very nicely with everyone. If you happen to have found all of your investment club members online, then you can pretty much assume that all of your meetings will be held online.

A very useful tool for having online meetings is a webcam. It will allow everyone to get better acquainted with one another, and feel more at ease with the people they will be doing financial transactions with. There are many online sites which will allow groups to make their own meeting room and they are compatible with webcam software. Online meetings would have a flow all their own, but business could be conducted very easily in this manner. If at all possible, it would be great for the group to meet in person on a specified date every year. It helps with the social bonding and building of trust among the group.

Hopefully, you have been able to find club members which live within a general proximity of where you live. When the club members live near enough for them to have meetings in person, meetings tend to go much smoother, and communication is much clearer.

The first meeting of your club will be a very busy one, and probably the longest meeting you have in a while. The club will have to decide on who will play what roles for the club, the monthly contribution amount will have to be set and initial contributions will need to be collected. The club agreement will have to be drafted and everyone must agree to and sign it. The meeting place will have to be established, and the time set for consequent meetings.

The club will have to agree on which real estate agent to use and/or whether to use an online mortgage broker, or a local full service broker. The group must also decide whether they would like to join the NAIC. Then of course there will have to be a name chosen for the group, which tends to be the most enjoyable part of the first meeting.

For some the club is a social occasion with the bonus of a profit. It doesn’t make any difference if you are a serious investor, or if it is more of an interesting hobby, investment groups can be educational, profitable and fun. Your investment club can have a lot of fun at meetings, and be very educational and profitable at the same time.

Real Estate Investing in Canada

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Foreclosure Investing

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Hans Anderson

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Here’s the third and final fatal flaw of newbie real estate
investors:

Fatal Flaw #3

Failure To Establish Clear Goals And Defining “Success” As Anything Other Than Making Big Profits…

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There’s only one reason for you to be a real estate investor: TO MAKE MONEY. Seems obvious, doesn’t it? But I’ve discovered that some investors don’t have a clear profit motive for being in the business.

Just imagine this (very common) scenario: An aspiring real estate investor named Joe sees an infomercial on late-night T.V. He becomes mesmerized by the amazing claims of massive wealth, and so he decides to order the course called “Make A Gazillion Dollars As A Landlord”.

The material arrives and Joe rips open the box and sticks in the video tape. He consumes every word like a hungry lion chews on his prey. Joe really starts to get excited, and he sees the potential for creating huge long-term wealth. He believes that the ideas will work, and he wants to put them to work for him.

So he goes off and diligently attempts to find good investment property. And while he’s doing this, he tells his friends and family all about what he’s doing. He discovers that his friend at work, George, also is interested in real estate – only George focuses on “rehab” deals. Instead of doing rentals, George finds broken-down houses, completely renovates the property, and sells the property for a large profit – usually around $20,000 or so.

…and Joe begins to get a little jealous, because he can see that using his Landlording strategy, he’ll have to wait a long time – maybe 10 to 20 years – before he’ll really see any significant profit. But George is making big lumps of cash every few months. Joe wants some of that cash.

So, Joe goes to a seminar to learn about rehabbing. He gets excited about that, but then the process repeats. Joe hears about the next “latest-greatest” strategy, and he does to yet another seminar and learns that one, too.

Is it wrong for Joe to go to the seminars and learn the strategies? Absolutely not. It would be stupid for Joe to try to invest without proper training. But……Joe has two problems here: * Problem #1 – is that Joe didn’t take the time to define why he wanted to invest in real estate. If he was investing for retirement, then his original Landlording strategy may have been appropriate. But if he wanted to make significant current income, then Landlording certainly isn’t the way to do it. Joe wasn’t clear about his goals and until he establishes some clear goals, he’ll spin his wheels and waste ever more money on courses and seminars that will never do him any good.

* Problem #2 – Because Joe hasn’t yet experienced any real financial success in real estate despite spending a lot of money on courses; he starts to redefine his internal definition for “success”.

Instead of success being equated with financial results, Joe has slipped progressively into a state of mind in which he defines success as his ability to learn more strategies and be the most knowledgeable “investor” around – despite the fact that he’s never done a deal.

You know what I’m talking about, don’t you? Joe has become the type of person who acts as if he knows everything there is to know about real estate investing, but the fact is that all he has is “book knowledge” but no financial results to show for it.

Because Joe didn’t have a clear picture in mind of what he wanted to accomplish, he has not made any profits. And because he hasn’t made any profits, he’s subconsciously chosen to redefine “success” as “the attainment of vast knowledge about real estate investing” rather than “the attainment of vast wealth from real estate investing”.

Why does this happen? If Joe doesn’t make any money, and his internal definition of success is to make money, then Joe would have to brand himself as a failure. And Joe isn’t comfortable with that. So instead, Joe redefines success to match what he’s doing: Joe now considers himself to be a success merely by knowing all of the strategies, rather than using them successfully.

So Fatal Flaw #3 is:

Failing To Establish Clear Goals And Defining “Success” As Anything

Other Than Making Big Profit.

To Your Success!

Aiden Win

Mr. Foreclosure

Canada Foreclosure List

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Five Tips for Working the Phones

By Sarah Garlick –

Let’s talk about the number one way to make your foreclosure business work. YOU’VE GOTTA WORK THE PHONES!! Sorry for yelling guys.

But you HAVE TO LEARN TO LOVE THE PHONES!

Here are my five best tips for help you make the most of your calls:

Tip Number One

Plan ahead. Do not leave making time for calls up to chance. There is no phone fairy that will magically get motivated owners with equity calling you. You need to make a schedule that you follow on a regular routine.

If you have to make 200 calls a week break that down to a daily goal. If you plan on calling 5 days a week, then you have to make 40 calls a day. No roll over calls. Don’t stockpile your work load into a couple days. You want to get into the habit of calling on a daily basis so you stay fresh at it.

Tip Number Two

Be proactive about making your calls where you will have the least amount of distractions as possible. So, for me, in the Nordstrom’s shoe department during the half yearly sale would not be a good time to make calls!

If you work in an office and people are always asking for your time, then calling from your desk is not the best idea. Take your lunch break in your car or out of the office so that you have privacy to make your calls. If you travel during the day make a certain amount of calls before you leave the parking lot.

We all have downtime in our day where we are not distracted, learn to use that time to be productive on the phones.

Tip Number Three

Manage your daily goals by identifying your personal limitations. What are the pitfalls in your day? What is an unrealistic expectation for YOU to reach? If you have 40 calls to make in your day it’s not very likely that you will come home after working all day and be fired up about getting on the phones that night. We all have a “cut off time” where we are less productive after that point in the day.

Try to have the majority of your calls made before your cut-off time hits. So if your cut off time is 5 pm make sure that you have 30 of your 40 calls done by 5pm. Then all you have to do is make 10 more calls and you are done that day.

When I was working full time and just starting out as a foreclosure investor after graduating from the Lab, my cut off time was 3 pm. After that I was less productive. I knew that if I didn’t have most of my calls done before 3pm I was setting myself up for failure. Don’t do that!

Watch the free List Machine Pro webinar. There is nothing better to use for lead generation or to Build a List of buyers or sellers, it’s like nothing you have ever seen before, attend the free webinar.

Set yourself up for success instead!

Tip Number Four

Relax, smile and enjoy solving problems on your schedule. Working the phones is FUN! When you get good at it you will love it! If you don’t already love it, fake it ’til you do.

Remind yourself to smile while you are talking to people. It takes the edge off and you will not sound mechanical or like a telemarketer. If people keep asking “what company you’re with” it’s because you sound too stiff. Try to imagine that you are talking with your best friend when you are making calls. How would that sound different than your “corporate” voice? A LOT!

Tip Number Five

Invest in your business through education. Starting with the new Mastering Home Study (just redone in 2008 and awesome), Alexis’ 3-day hands on Mastering Lab (I graduated in November 2002, can you believe its’ been that long?) or working with a Personal Coach — no matter where you are you need to push yourself farther to make YOU the master of the phones!!

And there’s no better day than TODAY! Don’t wait!

As Jim Rohn said:

“Education must proceed motivation. Get around people who have something of value to share with you. Their impact will continue to have a significant effect on your life long after they have departed.”

Your Friend,

Sarah Garlick

Coach, Lab Instructor and Investor

Real Estate Investing Facts .

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